Here are Tips to Choose the Right Property Management Company
Are you investing your time, money and effort into acquiring the rental property to increase your income, then you need to take care to choose the right property management company who help their client to manage that property and get the most out of it.
Is the Company Licensed?
The very first thing you need to determine before hiring a right property management company is whether or not the company is licensed. Having a license ensures that the property management company meets at least minimum requirements as to the knowledge and skills needed to successfully manage your property. Without a license, anyone can claim to be able to manage your property and may lack some or all of the skills to do successfully.
Can the Company Show Proven Profits for The Properties they Manage?
One of the most important things you want to look at when choosing a property management company is whether or not the properties that the management company manage to show a consistent profit. A good property management company knows how to manage the property in such a way as to ensure that their client makes a profit from their investment. If the majority of properties that are being managed by a company is not making a profit then you don’t want that company managing your property.
Check the Reviews
Speak to the Property Management Company and ask them for the names of clients that will be willing to speak to you and tell you about their experience with the Property management company. Also, check with other people who own rental properties and get their recommendations for the property management company they use.
Also, you are going to want to check reviews not just on the Property management company’s website, but also such places as the Better Business Bureau and YELP to make sure you are getting the full story on whether or not this is a good company to hire.
How Much Assistance is The Management Company Willing to Offer?
You want to hire a property management company that has your best interests at heart. This means that someone from the company is willing to walk through the property with you and suggest things that will make the property more appealing and help you increase your income. They should also make themselves available to answer any questions you may have or to address any of your concerns.
What Services Does the Property Management Company Offer?
You want to know exactly what the management company will be willing to do for you and how they plan on providing those services including:
- Acquiring and Screening Tenants-How do they plan on seeing that your property is occupied as long as possible, and finding tenants for unoccupied properties?
- Maintenance and Repairs- Will the company see to all maintenance and repairs including hiring the contractors and repairmen needed to get the job done? How will they inform you as to what repairs are needed or were done?
- Financial Accounting- Does the company keep a record of the properties rented, the amount of rent received, and the cost of any repairs? Do they send you a report regarding on the financial health of your investment and if so how often?
- Following these tips and gathering the needed information will help you choose the right property management company for your rental properties. RTI Properties, Inc. provides you with the right property management services you need regardless of any type of property.